CHICAGO, July 5, 2023 /PRNewswire/ -- The Autonomous Mobile Robots Market is expected to reach USD 4.1 billion by 2028 from USD 1.8 billion in 2023, at a CAGR of 17.5% during 2023-2028 according to a new report by MarketsandMarkets. The significant growth factor associated with the Autonomous Mobile Robots Market growth is the growing adoption of Industry 4.0 and automation solutions in various industries, which has created a substantial demand for AMRs. Companies seek to optimize their operations by improving productivity and reducing labor costs by deploying autonomous mobile robots for material handling, logistics, and other tasks.
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Autonomous Mobile Robots Market Report Scope:
Report Coverage | Details |
Market Revenue in 2023 | $1.8 billion |
Estimated Value by 2028 | $4.1 billion |
Growth Rate | Poised to grow at a CAGR of 17.5% |
Market Size Available for | 2019-2028 |
Forecast Period | 2023-2028 |
Forecast Units | Value (USD Million/Billion) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | By Offering, Payload Capacity, Navigation Technology, Industry and Region |
Geographies Covered | North America, Europe, Asia Pacific, and Rest of World |
Key Market Challenge | Integrating AMRs into existing workflows and systems |
Key Market Opportunities | Potential growth in industry-specific applications |
Key Market Drivers | Rapid advancements in robotics and artificial intelligence |
Software and Services segment to grow at a higher CAGR during the forecast period.
Software and services play a critical role in the effective deployment as well as operation of Autonomous Mobile Robots. AMRs require advanced software algorithms to navigate autonomously within their working environment. software and services are crucial components of AMR deployments. They offer the intelligence, coordination, and optimization essential to ensure the efficient and safe operation of AMRs in several applications.
By Payload Capacity, the >500 kg segment to grow at the highest CAGR from 2023 to 2028.
Autonomous Mobile Robots with a payload capacity more than 500 kg are majorly referred to as Heavy-Duty AMRs. These AMRs are developed to handle majorly large, heavy loads in industrial and logistical applications. They have applications in various industries such as manufacturing, automotive, logistics, and warehouses having heavy load requirements. They are deployed for tasks like transporting raw materials, moving finished products, relocating heavy equipment, and loading and unloading goods.
Manufacturing industry to hold largest market share in 2023.
AMRs help in optimizing manufacturing workflows by collecting data and generating insights. AMRs also contribute to continuous process optimization and also enable data-driven decision-making in the manufacturing industry. They help maximize machine utilization, reduce idle time, and also free up human workers for more skilled tasks.
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North America to contribute the largest market share in 2023.
The Autonomous Mobile Robots industry in North America has been undergoing substantial growth in recent years and is projected to continue its upward trajectory. The region is known for its strong focus on several technological innovations and advancements. The US is home to many leading robotics and automation companies, subsequently driving the development and deployment of various advanced AMR technologies. Continuous advancements in areas such as artificial intelligence, sensor technologies, and connectivity are anticipated to contribute to the growth of the AMR market.
The report profiles key players in Autonomous Mobile Robots companies such as ABB (Switzerland), Omron Automation (US), Mobile Industrial Robots (Denmark), Fetch Robotics (US), OTTO Motors (Canada) and others.
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